Bailard Inc. Acquires New Stake in Urban Outfitters, Inc. (NASDAQ:URBN)

Bailard Inc. bought a new position in Urban Outfitters, Inc. (NASDAQ:URBN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,720 shares of the apparel retailer’s stock, valued at approximately $533,000.

Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its position in shares of Urban Outfitters by 5,565.6% in the fourth quarter. Proficio Capital Partners LLC now owns 875,336 shares of the apparel retailer’s stock valued at $48,038,000 after purchasing an additional 859,886 shares during the period. Cerity Partners LLC purchased a new position in Urban Outfitters in the 3rd quarter valued at approximately $8,340,000. Empowered Funds LLC purchased a new position in Urban Outfitters in the 3rd quarter valued at approximately $7,789,000. Allspring Global Investments Holdings LLC raised its holdings in Urban Outfitters by 1,016.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock valued at $7,223,000 after acquiring an additional 119,820 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Urban Outfitters by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 2,188,806 shares of the apparel retailer’s stock worth $120,122,000 after acquiring an additional 115,390 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on URBN. Barclays lifted their price target on Urban Outfitters from $63.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Telsey Advisory Group upped their price target on Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Morgan Stanley raised shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $63.00 in a research note on Tuesday, January 21st. Finally, UBS Group increased their target price on shares of Urban Outfitters from $45.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.00.

Urban Outfitters Price Performance

URBN stock opened at $56.77 on Wednesday. The firm has a 50 day simple moving average of $56.04 and a two-hundred day simple moving average of $45.86. The stock has a market cap of $5.24 billion, a PE ratio of 16.27, a P/E/G ratio of 1.02 and a beta of 1.54. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $61.16.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the completion of the sale, the director now owns 495,296 shares in the company, valued at $25,012,448. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 31.80% of the company’s stock.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.